tag:blogger.com,1999:blog-8575396221761490577.post4689560701106304681..comments2023-10-14T11:47:37.778-04:00Comments on Bank Watch: Fed official urges action to shore up economyUnknownnoreply@blogger.comBlogger2125tag:blogger.com,1999:blog-8575396221761490577.post-21057523270290761222012-08-07T12:38:40.192-04:002012-08-07T12:38:40.192-04:00Why would the Fed take the same actions they'v...Why would the Fed take the same actions they've already taken that have done absolutely nothing to improve employment? As 1027 points out all the Fed has done is print money which has crushed the consumer's purchasing power.<br /><br />Furthermore, the Fed cannot buy bonds directly through Treasury; they buy from Primary Dealers (so-called precisely because they're the only entities permitted to buy directly from Treasury). And when the PDs sell to the Fed, they do so at a profit and with a commission. So another round of bond-buying is nothing but another round of windfall profits for Goldman Sachs and the other bankster criminals.Garth Vaderhttps://www.blogger.com/profile/03575150785051894691noreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-63948607942719908122012-08-07T10:27:48.714-04:002012-08-07T10:27:48.714-04:00Can you PLEASE stop using vacuous euphemisms like ...Can you PLEASE stop using vacuous euphemisms like "take action" and define exactly what the Fed has done: PRINT MONEY AND CREATE INFLATION? People need to understand why the pack of Thomas's bagels that cost $2.99 at Harris Teeter last summer costs $4.49 today.<br /><br />Your say the Fed may "buy bonds". WITH WHAT? Fairy dust? NO! With money they print out of thin air with no asset backing it.Anonymousnoreply@blogger.com